The industrial production index for the manufacturing sector fell 6.1% in the fourth quarter of 2003 compared to a year earlier. This was against the 9.1% year-on-year fall in the third quarter.

The corresponding producer price index rose 0.9%, the first increase in the past three years.

Comparing the fourth quarter with a year earlier, the textiles (including knitting) industry had the largest fall in output (-14.3%). It was followed by the electrical and electronic products, machinery, professional equipment and optical goods industry (-6.2%), the chemical, rubber, plastic and non-metallic mineral products industry (-6.2%), the wearing apparel (except footwear) industry (-6%), and the food, beverages and tobacco industry (-4.1%).

Output of the basic metals and fabricated metal products industry, and the paper products and printing industry rose 6.7% and 2% respectively.

On a seasonally adjusted basis, the index of industrial production for the manufacturing sector rose 0.3%.

For 2003 as a whole, the index of industrial production for the manufacturing sector fell 9.2% compared with 2002.

Plastic products sees the largest rise in producer prices

Comparing the fourth quarter of 2003 with a year earlier, the plastic products industry had the largest rise in producer prices (+5.5%), followed by the textiles (including knitting) industry (+1%).

Falls in producer prices were recorded for the machinery, equipment, apparatus, parts and components industry (-3.2%), the consumer electrical and electronic products industry (-2.1%), the fabricated metal products (except machinery and equipment) industry (-1.3%), the paper products and printing industry (-0.6%), and the wearing apparel (except footwear) industry (-0.1%).

Comparing the fourth with the third quarter, the producer price index for the manufacturing sector as a whole rose 1.2%.

For 2003 as a whole, the producer price index for the manufacturing sector fell 0.3% compared with 2002.